NGO formation-formation of a non-profit organization
By: chaman goyal | Posted: 25th November 2009
A Non Governmental Organization (NGO) is an association of a body of individuals with a non-profit motive. An association of persons with non-profit motive i.e. NGO formation can be done under some Indian Acts. NGO formation can be done as charitable trust, as a Company licensed under section 25 of the Companies Act or as a Society registered under the Societies Registration Act. Company registration India provides NGO formation services also. NGO formation is exempted from any kind of taxes because any income of any institution set up for the charitable purposes is exempt. To avail exemptions under certain clauses one should fulfill some requirements. After NGO formation in India if you want to avail tax exemptions then you have to make an application in Form No. 56.Then Apply its income or accumulating it for application, wholly & exclusively to its objects. And at last Notice of accumulation u/s 11(2) will have to be given to the assessing officer in Form No. 10.
As it is understood that Company is a separate legal entity which is registered under the companies act. Every country is having different procedure and some steps to be followed for registration. New Company registration in India is registered under the Indian Companies act 1956. It is always advisable to New company registration in India as it will legally benefit organization. IPO listing means initial public offering. An IPO provides an alternative to relying on bank funding and frees the company from fixed repayment commitment. IPO listing Enhances image and status of the company.
The process of setting up a new business is an exciting one but for a first time entrepreneur, the initial steps required to legally set up a business entity can be a trifle confusing. To make your business entity brand company registration in India keeps two important phases, which are very essential to run the business successfully. Memorandum and Articles of Association plays major role in registering your company in India & across the globe. Before approaching the Registrar of Companies, it is preferable to complete the process of preparing the draft Memorandum and Articles of Association, bring in the share application money and appoint the directors. First director is generally a shareholder of the company and a minimum of 2 directors is very essential for a company that is going to be a Private Limited Company.
One can start trading as soon as he gets his company registered, but he cannot charge or reclaim VAT until he has completed the VAT registration process and has been issued with a VAT registration number.
Company registration India provides hassle free easy online VAT registration.
Online VAT registration becomes necessary if you want to reclaim VAT.
Company registration India gives you easy and fast online VAT registration so that you can enjoy maximum profit by reclaiming your VAT.
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Tags: business entity, initial public offering, separate legal entity, initial steps, ngo, tax exemptions, memorandum and articles, articles of association